“Well, there’s one thing that goes with that that I didn’t know till a little while ago and that is that our man Stener is apt to be short in his accounts, unless things come out better than some people seem to think,” suggested Butler, calmly. “That might not look so well before election, would it?” His shrewd gray Irish eyes looked into Mollenhauer’s, who returned his gaze.
“Where did you get that?” queried Mr. Mollenhauer icily. “He hasn’t deliberately taken much money, has he? How much has he taken—do you know?”
“Quite a bit,” replied Butler, quietly. “Nearly five hundred thousand, so I understand. Only I wouldn’t say that it has been taken as yet. It’s in danger of being lost.”
“Five hundred thousand!” exclaimed Mollenhauer in amazement, and yet preserving his usual calm. “You don’t tell me! How long has this been going on? What has he been doing with the money?”
“He’s loaned a good deal—about five hundred thousand dollars to this young Cowperwood in Third Street, that’s been handlin’ city loan. They’ve been investin’ it for themselves in one thing and another—mostly in buyin’ up street-railways.” (At the mention of street-railways Mollenhauer’s impassive countenance underwent a barely perceptible change.) “This fire, accordin’ to Cowperwood, is certain to produce a panic in the mornin’, and unless he gets considerable help he doesn’t see how he’s to hold out. If he doesn’t hold out, there’ll be five hundred thousand dollars missin’ from the city treasury which can’t be put back. Stener’s out of town and Cowperwood’s come to me to see what can be done about it. As a matter of fact, he’s done a little business for me in times past, and he thought maybe I could help him now—that is, that I might get you and the Senator to see the big bankers with me and help support the market in the mornin’. If we don’t he’s goin’ to fail, and he thought the scandal would hurt us in the election. He doesn’t appear to me to be workin’ any game—just anxious to save himself and do the square thing by me—by us, if he can.” Butler paused.
Mollenhauer, sly and secretive himself, was apparently not at all moved by this unexpected development. At the same time, never having thought of Stener as having any particular executive or financial ability, he was a little stirred and curious. So his treasurer was using money without his knowing it, and now stood in danger of being prosecuted! Cowperwood he knew of only indirectly, as one who had been engaged to handle city loan. He had profited by his manipulation of city loan. Evidently the banker had made a fool of Stener, and had used the money for street-railway shares! He and Stener must have quite some private holdings then. That did interest Mollenhauer greatly.
“Five hundred thousand dollars!” he repeated, when Butler had finished. “That is quite a little money. If merely supporting the market would save Cowperwood we might do that, although if it’s a severe panic I do not see how anything we can do will be of very much assistance to him. If he’s in a very tight place and a severe slump is coming, it will take a great deal more than our merely supporting the market to save him. I’ve been through that before. You don’t know what his liabilities are?”
“I do not,” said Butler.
“He didn’t ask for money, you say?”
“He wants me to l’ave a hundred thousand he has of mine until he sees whether he can get through or not.”